In article . net, "Dwight
Stewart" writes:

if the mortgage isn't paid off, the mortgage company can
foreclose and resell the house for a very tidy profit. That alone is enough
to attract many mortgage companies to the elderly. This may also be why some
mortgage companies actually seem to seek out those who will likely not fully
pay off a mortgage (excessive debt, a history of bad credit, or whatever).
After the mortgagor has partially paid down the amount owed on the property,
the mortgage company can foreclose and retain the property for a much lower
amount than they would have paid in an outright purchase.

Only if the total costs of doing all that do not exceed the recovered value
after the sale.

73 de Jim, N2EY